WESTLINK: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
WESTLINK
Largest movements
- Cash +€27,790
up €27,790 (+18.2%), from €152,556 to €180,346
mainly Other debts (+€55,281) and Net result for the year (+€43,561)
- Tangible fixed assets -€4,895
down €4,895 (-41.8%), from €11,707 to €6,813
- Other debts +€55,281
up €55,281 (+227.3%), from €24,321 to €79,602
- Reserves -€38,271
down €38,271 (-28.7%), from €133,328 to €95,057
- Tax, wage and social debts +€3,783
up €3,783 (+36.6%), from €10,338 to €14,121
- Gross operating margin +€3,527
up €3,527 (+5.9%), from €59,444 to €62,971
- Financial income +€2,689
up €2,689 (+1641.7%), from €164 to €2,853
- Taxes +€1,604
up €1,604 (+10.8%), from €14,908 to €16,511
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €188,520 | €209,414 | +€20,895 | +11.1% |
| Fixed assets | 21/28 | €11,707 | €6,813 | -€4,895 | -41.8% |
| Tangible fixed assets | 22/27 | €11,707 | €6,813 | -€4,895 | -41.8% |
| Furniture and vehicles | 24 | €11,707 | €6,813 | -€4,895 | -41.8% |
| Current assets | 29/58 | €176,812 | €202,602 | +€25,790 | +14.6% |
| Amounts receivable within one year | 40/41 | €23,761 | €21,980 | -€1,781 | -7.5% |
| Trade receivables | 40 | €22,627 | €21,962 | -€666 | -2.9% |
| Other amounts receivable | 41 | €1,134 | €19 | -€1,116 | -98.3% |
| Cash at bank and in hand | 54/58 | €152,556 | €180,346 | +€27,790 | +18.2% |
| Deferred charges and accrued income | 490/1 | €495 | €275 | -€219 | -44.4% |
| Total equity and liabilities | 10/49 | €188,520 | €209,414 | +€20,895 | +11.1% |
| Equity | 10/15 | €151,928 | €113,657 | -€38,271 | -25.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €133,328 | €95,057 | -€38,271 | -28.7% |
| Distributable reserves | 133 | €133,328 | €95,057 | -€38,271 | -28.7% |
| Amounts payable | 17/49 | €36,592 | €95,757 | +€59,166 | +161.7% |
| Amounts payable within one year | 42/48 | €36,592 | €95,757 | +€59,166 | +161.7% |
| Trade debts | 44 | €1,933 | €2,034 | +€101 | +5.2% |
| Suppliers | 440/4 | €1,933 | €2,034 | +€101 | +5.2% |
| Taxes, remuneration and social security | 45 | €10,338 | €14,121 | +€3,783 | +36.6% |
| Taxes | 450/3 | €10,338 | €14,121 | +€3,783 | +36.6% |
| Other amounts payable | 47/48 | €24,321 | €79,602 | +€55,281 | +227.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,895 | €4,895 | = | 0.0% |
| Other operating charges | 640/8 | €703 | €725 | +€22 | +3.1% |
| Gross operating margin | 9900 | €59,444 | €62,971 | +€3,527 | +5.9% |
| Operating profit (loss) | 9901 | €53,846 | €57,351 | +€3,505 | +6.5% |
| Financial income | 75/76B | €164 | €2,853 | +€2,689 | +1641.7% |
| Recurring financial income | 75 | €164 | €2,853 | +€2,689 | +1641.7% |
| Financial charges | 65/66B | €117 | €131 | +€14 | +11.9% |
| Recurring financial charges | 65 | €117 | €131 | +€14 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €53,893 | €60,072 | +€6,180 | +11.5% |
| Income taxes | 67/77 | €14,908 | €16,511 | +€1,604 | +10.8% |
| Profit (loss) for the period | 9904 | €38,985 | €43,561 | +€4,576 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,985 | €43,561 | +€4,576 | +11.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.